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Taxing Financial Transactions; An Assessment of Administrative Feasibility

  • John Brondolo
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    This paper considers how a tax on financial transactions could be applied to three broad and partially overlapping categories of financial instruments: (1) exchange-traded instruments; (2) over-the-counter instruments; and, (3) foreign exchange instruments. For each category, the paper examines the factors that would facilitate or complicate the administration of a financial transactions tax, the options for collecting the tax, the types of compliance risks that are likely to be encountered, and measures for mitigating these risks.

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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=25142
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    Paper provided by International Monetary Fund in its series IMF Working Papers with number 11/185.

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    Length: 51
    Date of creation: 01 Aug 2011
    Date of revision:
    Handle: RePEc:imf:imfwpa:11/185
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    1. Jonathan David Ostry & Atish R. Ghosh & Karl Friedrich Habermeier & Luc Laeven & Marcos Chamon & Mahvash Saeed Qureshi & Annamaria Kokenyne, 2011. "Managing Capital Inflows: What Tools to Use?," IMF Staff Discussion Notes 11/06, International Monetary Fund.
    2. Bernardo S. de M. Carvalho & Márcio G. P. Garcia, 2008. "Ineffective Controls on Capital Inflows under Sophisticated Financial Markets: Brazil in the Nineties," NBER Chapters, in: Financial Markets Volatility and Performance in Emerging Markets, pages 29-96 National Bureau of Economic Research, Inc.
    3. Thornton Matheson, 2011. "Taxing Financial Transactions; Issues and Evidence," IMF Working Papers 11/54, International Monetary Fund.
    4. Kapoor, Sony & Hillman, David & Spratt, Stephen, 2007. "Taking the Next Step - Implementing a Currency Transaction Development Levy," MPRA Paper 4054, University Library of Munich, Germany.
    5. Burkhard Drees & Garry J. Schinasi & Charles Frederick Kramer & R. Sean Craig, 2001. "Modern Banking and OTC Derivatives Markets: The Transformation of Global Finance and its Implications for Systemic Risk," IMF Occasional Papers 203, International Monetary Fund.
    6. John Y. Campbell & Kenneth A. Froot, 1994. "International Experiences with Securities Transaction Taxes," NBER Chapters, in: The Internationalization of Equity Markets, pages 277-308 National Bureau of Economic Research, Inc.
    7. Kern Alexander, 2010. "International Regulatory Reform and Financial Taxes," Journal of International Economic Law, Oxford University Press, vol. 13(3), pages 893-910, September.
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